ISLAMABAD
\nMinister for Planning, Development, and Special Initiatives Professor Ahsan Iqbal Wednesday underscored the need for political stability and continuity of economic policies to put Pakistan on a sustained growth trajectory and attain social prosperity.
\nAddressing the Pakistan Development Summit, the minister said, \u201cPakistan is blessed with all natural resources and by mobilizing these resources, we can take the country on the path of rapid economic growth and social development within a ten-year time period.\u201d
\nThe theme of the event was \u201c5Es Framework Road map to a Trillion Dollar Economy by 2035,\u201d which aimed to bring together stakeholders from industry, academia and sectoral professionals to shape the future of Pakistan\u2019s economic growth.
\nAbout nine key thematic sessions under the topic of 5EsFramework would gather expert feedback and prepare a comprehensive plan of action to attain sustainable economic development and social prosperity.
\nSpeaking on the occasion, the minister stressed the need to form an economic charter, besides maintaining the continuity of these economic policies to turn around the national economy.
\nHe said that peace and political stability in the country were the other prerequisite elements to put the country on a fast track to economic uplift. Ahsan Iqbal also urged the need for an accelerated pace of economic growth and development not only to compete with the regional countries but to bring it at par with these economies.
\nHighlighting the significance of the China-Pakistan Economic Corridor Project (CPEC), the minister said, \u201cIt was a game-changer project, which will help to transform local industrial and agriculture sectors.\u201d
\nHe also called for mobilizing domestic resources to meet the financial requirements and reducing the reliance on borrowing. The minister said that the income of the government was Rs7,000 billion and debt repayment was Rs8,000 billion, adding that it was borrowing 1,000 billion per annum to bridge the gap between income and expenditure.
\nMeanwhile, the minister said, \u201cMore than half of the country\u2019s population does not pay the electricity bill, besides large businesses and traders are not paying their due taxes.\u201d He stressed the need to promote tax compliance culture to generate resources to meet expenses.
\nThe Planning Minister also stressed the need to strengthen the foreign exchange reserve of the country to ensure the timely payments of all international commitments. Addressing the event, Secretary Ministry of Planning, Development and Special Initiatives Owais Samra said that Pakistan was facing economic difficulties, adding that the government was following a comprehensive policy to revive the economy. He further informed, \u201cThe Planning Commission has prepared the framework of 5Es including energy, exports, E-Pakistan, environment and equality.\u201d It included various short, medium and long-term projects to achieve sustainable economic development and social prosperity, he added.
\n\u201cPakistan is facing the challenges of climate change,\u201d he said. \u201cThe government was taking holistic measures for the mitigation of its adverse impact on the local social and economic landscape, he added.<\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD Minister for Planning, Development, and Special Initiatives Professor Ahsan Iqbal Wednesday underscored the need for political stability and continuity of economic policies to put Pakistan on a sustained growth trajectory and attain social prosperity. Addressing the Pakistan Development Summit, the minister said, \u201cPakistan is blessed with all natural resources and by mobilizing these resources, […]<\/p>\n","protected":false},"author":2,"featured_media":407123,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":{"0":"post-407197","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-national"},"yoast_head":"\n